Shell profits rise but mixed earnings season takes shine off  Big Oil firms

Shell’s adjusted net income from July to September was $6.22bn, an increase of 23% from the prior quarter but down about a third from a year earlier.

Shares in Shell rose as the company accelerated the pace of buybacks following an increase in third-quarter profit due to higher energy prices, strong gas trading, and wider refining margins.

The company’s performance, which matched analyst expectations, caps a mixed earnings season for Big Oil. The US majors fell short of estimates, taking some of the shine off recent takeover deals, while their European peers mostly did better than expected.